Financial Math Trivia Quiz! Test

8 Questions | Attempts: 54
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  • 1/8 Questions

    A particular car was bought for R75 000. What will the book value of the car be after 5 years if the rate of depreciation is 16% per annum, where the depreciation is based on the straight-line method. (round off to the nearest rand)

    • 15005
    • 14900
    • 15000
    • 15765
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About This Quiz

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Financial Math Trivia Quiz! Test - Quiz

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  • 2. 

    Fausia and Nonhlanhla each have R1500. Fausia invests her money for 5 years at 10 % per annum compounded monthly. Nonhlanhla invests her R1500 for 5 years at 10% per annum compounded half-yearly. What is the difference in their accrued amounts at the end of the 5 year period? (round off to the nearest rand)

    • 102

    • 56

    • 16

    • 25

    Correct Answer
    A. 25
  • 3. 

    A man wants to make an investment that will be worth R50 000 after 10 years. What amount must he invest now if interest is calculated at 12% per annum compounded annually. (round off to the nearest rand)

    • 16989

    • 16099

    • 16199

    • 16009

    Correct Answer
    A. 16099
  • 4. 

    A loan of R100 000 is repaid over 20 years by means of equal monthly installments starting 1 month after the loan was granted. The interest rate is 15% per annum compounded monthly. What is the future value of the loan over 20 years. (round off to the nearest rand)

    • 199847

    • 257698

    • 1971549

    • 589362

    Correct Answer
    A. 1971549
  • 5. 

    Monwabisi invests R25 000 for 5 years at 12% per annum, compounded annually. Determine the amount that he will receive after 5 years. (round off to the nearest rand)

    • 44058

    • 762

    • 44059

    • 3923

    Correct Answer
    A. 44059
  • 6. 

    Calculate the value of an investment of R10 000 that earns simple interest of 6.75% per annum over 6 months. (round off to the nearest rand)

    • 10335

    • 10328

    • 9949

    • 10338

    Correct Answer
    A. 10338
  • 7. 

    Karabo's investment grows from R7000 to R9304.60 in a period of three years. Interest is compounded quarterly. What is (a) the effective interest rate on investment and (b) nominal interest rate on investment. (round off to 2 decimal places)

    • 9.60%; 9.54%

    • 9.60%; 9.95%

    • 2.4%; 2.52%

    • 3.57%; 7.24%

    Correct Answer
    A. 9.60%; 9.54%
  • 8. 

    An amount of x rand was invested at an interest rate of 12% per annum compounded quarterly. After 5 years the investment has grown to R1 806.11. Calculate the value of x correct to the nearest rand.

    • 1000

    • 1010

    • 998

    • 2589

    Correct Answer
    A. 1000

Quiz Review Timeline (Updated): Mar 20, 2022 +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Mar 20, 2022
    Quiz Edited by
    ProProfs Editorial Team
  • Jul 16, 2016
    Quiz Created by
    Mathemaniacs
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